BEE vs. DFW is not exactly news. Ellis (b. 1964) and Wallace (b. 1962) both published their first novels in the mid-eighties. Less Than Zero made 21-year-old Ellis a star, a likely “voice of his generation.” The Broom of the System didn’t exactly go gangbusters for Wallace, but its voluminous scope, Pynchonian silliness, and its willingness to pick up the postmodern games that Ellis and the other new minimalists seemed to reject announced a major new talent who was willing to both think and feel—to go beyond the surfaces. Indeed, Wallace’s entire project might be defined as setting himself apart from the cool, detached irony that characterizes Ellis’s ethos. In a 1993 interview with Larry McCaffery,Wallace decries fiction that devotes “a lot of energy to creating expectations and then taking pleasure in disappointing them. You can see this clearly in something like Ellis’s American Psycho: it panders shamelessly to the audience’s sadism for a while, but by the end it’s clear that the sadism’s real object is the reader herself.” I think this is an apt criticism. American Psycho is torture porn encased in a thin veneer of social satire with no interior substance.

It's well worth your time and thoughtfully considers some of the coments made by Ellis about Wallace (here and here previously) a year or so ago.